Gov. Earl Ray Tomblin today announced Moody's and Standard & Poor's Rating Services (S&P) have reaffirmed their positive, stable ratings on West Virginia's Excess Lottery Revenue Bonds issued by the West Virginia School Building Authority and the West Virginia Economic Development Authority.
"I'm pleased Moody's and S&P continue to recognize West Virginia's commitment to fiscal responsibility," Gov. Tomblin said. "These ratings protect our state's traditional high bond rating and provide long-term stability for West Virginia. We did not get here by accident -- we got here with planning, patience and foresight and by working together with the Legislature to create a better future for all West Virginians."
Moody's affirmed a bond rating of A1 with a stable outlook for the West Virginia School Building Authority Lottery Capital Improvement Revenue Bonds. Standard & Poor's Rating Services has assigned a bond rating of AAA with a stable outlook for the West Virginia School Building Authority Lottery Capital Improvement Revenue Bonds.
These bond ratings will result in lower interest rates, making funding available for capital improvements for schools in West Virginia.